The United States Announced a 100% Tariff on Electric Vehicles Imported from China; Will This Measure Decrease Chinese Dominance?

Written by Bruno Teles

Published on 06/06/2024 at 13:32

A China é líder mundial na produção de veículos elétricos, com empresas como a BYD se destacando. A BYD, que começou como fabricante de baterias, projetou 3 milhões de carros no ano passado. Enquanto o preço médio de um carro elétrico nos Estados Unidos é de cerca de 55 mil dólares, a BYD oferece modelos de alta performance por preços bem mais baixos. Foto: Mobility Channel/Divulgação

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China Is The World Leader In Electric Vehicle Production, With Companies Like BYD Standing Out. BYD, Which Started As A Battery Manufacturer, Designed 3 Million Cars Last Year. While The Average Price Of An Electric Car In The United States Is About 55 Thousand Dollars, BYD Offers High-Performance Models At Much Lower Prices.

For A Long Time, The United States Imposed A 2.5% Tariff On Cars Imported From China. During The Trump Administration, This Tariff Increased To 25%. Now, Under The Biden Administration, The Tariff Has Risen To 100%. This Means That A 10 Thousand Dollar Car Will Now Have An Additional Cost Of 10 Thousand Dollars In Tariffs, Doubling The Price.

The CEO Of BYD Criticized This Measure, Saying That The United States Is Being Too Sensitive. He Stated That BYD Is Prepared To Enter The American Market, But Questions Whether The United States Is Ready To Compete.

Elon Musk, CEO Of Tesla, Also Commented On The Competitiveness Of Chinese Electric Vehicle Companies

Stating That They Are Extremely Efficient And Will Succeed Globally, Depending On The Trade Barriers Imposed. Carlos Tavares, CEO Of Stellantis, Called This A “Chinese Offensive,” Highlighting That Companies Unable To Match The Low Costs Of Chinese Electric Vehicles Will Face Serious Problems.

ARTICLE CONTINUES BELOW

Shares Of Electric Vehicle Companies In The United States Fell In The First Quarter Of 2024

Companies Like Tesla, Rivian, And Lucid Saw Their Shares Plummet, While BYD Experienced A Relatively Smaller Drop. This Raises The Question Of How China Is Able To Manufacture Electric Vehicles At Such Low Prices.

The Answer Lies In The Availability Of Essential Minerals For Battery Manufacturing. Electric Vehicles Require Much More Minerals Than Combustion Vehicles, Such As Graphite, Copper, Nickel, And Cobalt. China Dominates The Production And Processing Of These Minerals, Giving Them A Significant Advantage.

In 2020, China Was Behind Europe In Electric Vehicle Sales. However, In 2021, China Regained Its Leadership And By 2023, Was Already Far Ahead Of The United States And Europe. China Has 523 Million Drivers But Only 21 Million Electric Vehicles, Indicating There Is Plenty Of Room For Growth.

The United States Announced a 100% Tariff on Electric Vehicles Imported from China; Will This Measure Decrease Chinese Dominance?

Elon Musk, CEO Of Tesla, Also Commented On The Competitiveness Of Chinese Electric Vehicle Companies

Shares Of Electric Vehicle Companies In The United States Fell In The First Quarter Of 2024

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The United States Announced a 100% Tariff on Electric Vehicles Imported from China; Will This Measure Decrease Chinese Dominance?

Elon Musk, CEO Of Tesla, Also Commented On The Competitiveness Of Chinese Electric Vehicle Companies

Shares Of Electric Vehicle Companies In The United States Fell In The First Quarter Of 2024

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

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